Life Science Reagents Market (By Product: Molecular, Cell Culture, Chromatography, Immunoassay, ClinicalChemistry, Microbiology, Flow Cytometry, and Others; By Application: Hospitals & Diagnostic Labs, Academic Research & Institutes, Contract Research Organizations, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 - 2032
The global life science reagents market size was estimated at USD 50 billion in 2022, and it is expected to reach around USD 90.05 billion by 2032 poised to grow at a compound annual growth rate (CAGR) of 6.10% during the forecast period 2023 to 2032.
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The U.S. life science reagents market size was valued at USD 11.12 billion in 2022, and is projected to hit around USD 20.57 billion by 2032, represent at a CAGR of 6.40% between 2023 to 2032.
Based on region, North America accounted the largest revenue share in 2022. North America is witnessing a rapid growth of the biopharmaceutical industry and rising penetration and growth of the contract research organizations, which is a major cause of the increased consumption of the life science reagents. Furthermore, rising government support to develop the biopharmaceutical industry is a major factor that is expected boost the demand for the life science reagents. The rising prevalence of chronic diseases and increased demand for the latest diagnostics and medicines in US has huge contributions in the growth of the North America market.
On the other hand, Asia Pacific is estimated to be the most opportunistic market during the forecast period. Asia Pacific is characterized by the presence of numerous big CROs and CMOs. The rapidly growing biotechnology companies and growing number of diagnostic laboratories in the region is expected to boost the consumption of the life science reagents. The rising government initiatives to attract FDIs is propelling the pharmaceutical companies to expand their production facilities in the region, which will drive the life science reagents market during the forecast period.
The global life science reagents market is primarily driven by various factors such as rising prevalence of infectious diseases, rising investments in the research & development by the biotechnology company, rapidly growing biotechnology industry, technological upgradations in the life science filed, and rapidly growing biopharmaceutical industry across the globe. Micro-organisms such as bacteria, virus, and parasites may result in the infectious diseases. This type of diseases can be easily transmitted to others. The rising prevalence of various infectious diseases such as Hepatitis A virus, HIV, Zika, and Dengue has resulted in the increased demand for the life science reagents. According to the Journal of Infectious Diseases and Therapy 2019, around 1.5 million clinical cases of Hepatitis A Virus is reported across the globe each year. Zika Virus was declared an endemic in Africa. According to the World Health Organization, more than 31,000 confirmed cases of Zika Virus had been reported in Americas in 2018. Further, dengue is the most critical mosquito-borne disease, which is spreading rapidly across the globe. As per the WHO, the cases of dengue fever increased rapidly from 505,430 cases in 2000 to 4.2 million in 2019, all over the globe. Therefore, the rapidly rising prevalence of various infectious diseases among the global population is the most important driver of the life science reagents market.
The outbreak of the COVID-19 pandemic had a positive effect on the market and it spiked the demand for the life science reagents across the globe. The demand for the life science among the diagnostic centers and hospital rapidly surged for the growing need for testing the patients. Furthermore, all the research organizations became active and demanded the life science reagents to conduct their study on the new COVID-19 virus that became a pandemic all over the globe. Thus, the COVID-19 positively impacted the market growth in 2020.
Report Highlights | Details |
Market Size | USD 90.05 Billion by 2032 |
Growth Rate | CAGR of 6.10% From 2023 to 2032 |
Largest Market | North America |
Fastest Growing Market | Asia Pacific |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segments Covered | Product, Application, Region |
Companies Mentioned | Hoffmann-La Roche, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Abbott, BioMerieux SA, Merck KGaA, Danaher Corporation, Siemens Healthineers, DiaSorinSpA, Sysmex Corporation |
Based on product, the immunoassay segment accounted largest revenue share in 2022 and is projected to sustain its dominance during the forecast period. This can be attributed to the increased demand for the immunoassay reagents among the diagnostic labs and the hospitals. Moreover, the biotechnology and the pharmaceutical industries are the major consumers of the immunoassay reagents owing to the increased research activities like new drug development and novel test assay development.
On the other hand, the in-vitro diagnostic is estimated to be the most opportunistic segment. The shift in the paradigm from traditional to advanced diagnostics, which analyzes the gene due to the inclusion of various technologies like gene testing, next generation sequencing, and molecular diagnostic is fostering the segment growth. Moreover, the rising prevalence of various chronic diseases like coronary heart disease among the population is expected to drive the demand for the in-vitro diagnostics. According to the World Heart Federation, around 3.4 million women and 3.8 million men dies each year due to the coronary heart diseases.
Based on application, the hospitals & diagnostic labs segment dominated the global market in 2022, in terms of revenue. In 2022, the demand for the life science reagents suddenly spiked due to the rapid spread of the COVID-19 virus. Diagnostic labs and hospitals were increasingly using the life science reagents to test their patients. Moreover, the life science reagents in the molecular diagnostics are extensively used for extracting nucleic acid, human leukocyte antigens typing, and detection of mutations. Further, the growing prevalence of various chronic diseases among the global population is boosting the consumption of life science reagents for the diagnostic purposes, which boosts the growth of this segment significantly.
On the other hand, the contract research organizations are expected to be the fastest-growing segment during the forecast period. This is attributed to the increased investment by various biotechnology and pharmaceutical companies in the research activities. The rising penetration of various contract research organizations in the developed and developing nations and their activities related to new drug development and new diagnostic tests is expected to foster the demand for the life science reagents across the globe.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
In May 2020, Meridian Bioscience, Inc. one of the leading life science reagents raw material provider and diagnostic test solutions, acquired the FDA approval of SARS-CoV-2 antigens.
The various developmental strategies like acquisition, partnerships, mergers, and government policies fosters market growth and offers lucrative growth opportunities to the market players.
Segments Covered in the Report
By Product
By Application
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Life Science Reagents Market
5.1. COVID-19 Landscape: Life Science Reagents Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Life Science Reagents Market, By Product
8.1. Life Science Reagents Market, by Product Type, 2023-2032
8.1.1. Molecular
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Cell Culture
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Chromatography
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Immunoassay
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Clinical Chemistry
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Microbiology
8.1.6.1. Market Revenue and Forecast (2020-2032)
8.1.7. Flow Cytometry
8.1.7.1. Market Revenue and Forecast (2020-2032)
8.1.8. Others
8.1.8.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Life Science Reagents Market, By Application
9.1. Life Science Reagents Market, by Application, 2023-2032
9.1.1. Hospitals & Diagnostic Labs
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Academic Research & Institutes
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Contract Research Organizations
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Life Science Reagents Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. Hoffmann-La Roche
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Thermo Fisher Scientific Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Becton
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Dickinson and Company
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Abbott
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. BioMerieux SA
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Merck KGaA
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Danaher Corporation
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Siemens Healthineers
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. DiaSorinSpA
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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